Paxos Subsidiary Receives SEC Clearing License, Becoming the First Blockchain-Native Settlement Institution in the U.S.

Odaily reported that stablecoin issuer Paxos announced that its subsidiary, Paxos Securities Settlement Company (PSSC), has officially received approval from the U.S. SEC to register as a Clearing Agency. It is now authorized to provide securities clearing and settlement services under Section 17A of the Securities Exchange Act of 1934.

This approval makes PSSC the first and currently the only “blockchain-native” registered clearing agency in the United States. It can also act as a Central Securities Depository (CSD) to provide delivery-versus-payment (DVP) settlement services for eligible securities transactions. (Prnewswire)